The Conservatives have been nothing but consistent in their message that they would be scrapping HIPs. Lobbyists in favour of the HIP have during last 12 months been looking for a ray of light and clinging on to some sort of hope that HIP will not be abolished. That ray of light has simply not materialised as Grant Shapps, Shadow Housing Minister, has said over and over again that HIPS will be abolished as soon as the Conservatives come into power. The Conservatives have said that the Government led people who spent thousands of pounds training for new HIP-related careers ‘up the garden path’.
The fact remains that HIPS are not popular and regardless of the documentation put forward by the Association of HIP Providers. The perception is that HIPs have not dramatically speeded up the conveyancing process and sellers do not see any value. Ultimately it is a clear vote winner for the Conservative Party. In a nation of home owners, the abolition of the HIP is pretty much deemed to be the equivalent of a tax cut. Most political analysts over the last 25 years have accepted that people vote from their pockets.
So, will HIPs be abolished when the Conservatives gain power. . ?